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Global Lithium Ion Battery Market to Register Increasing Demand from Industries Due to Implementation of Stringent Environment Regulations

  • Date Submitted: 11/21/2015 01:26 AM
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According to a report published by Transparency Market Research (TMR), the global lithium ion battery market, which stood at US$11.7 bn in 2012, is expected to reach US$33.1 bn by 2019. If the estimates hold true, the global market for lithium ion batteries will exhibit a CAGR of 14.40% between 2013 and 2019. The report is titled “Global Lithium Ion Battery Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 - 2019” and is available for sale on the company website.

Browse the full Global Lithium Ion Battery Market (Cathode, Anode, and Electrolytic solution) - Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 - 2019 report at http://www.transparencymarketresearch.com/lithium-ion-battery-market.html

In the last few years, the demand for electric and hybrid electric vehicles (HEVs) has increased significantly owing to the rising crude oil prices. Since these vehicles are powered by lithium ion batteries, growth of the market for HEVs will subsequently boost the market for lithium ion batteries. Apart from the automotive industry, the report also cites lucrative prospects for lithium ion batteries in the consumer electronics sector. Lithium ion batteries are nowadays increasingly being used in devices such as tablets and smartphones, since they ensure slow battery discharge and high lifespan. This is expected to significantly propel the global market for lithium ion batteries.

Governments of several nations are implementing stringent regulations to curb the carbon footprint. Stringent regulations imposed in countries such as China and in countries across Europe and North America aid the increasing adoption of lithium ion batteries, as per the TMR report. However, lack of awareness regarding the benefits of lithium ion batteries and their high price will hamper the growth of the market to some extent. This is also the primary reason behind low adoption of these batteries in the automotive, electronics, and other...


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